Enter the terms of a vehicle purchase and vehicle lease into this template to compare and determine which is the best decision. This template is helpful in comparing all the buying and leasing decisions. It is not limited to purchase of car.
However, you can customize this template as per your requirement to add or subtract various components.
Advantages and disadvantages of leasing.
The major drawback of leasing is that you don’t acquire any equity in the vehicle. It’s a bit like renting an apartment. You make monthly payments but have no ownership claim to the property once the lease expires.
In this case, it means you can’t sell the car or trade it in to reduce the cost of your next vehicle.
However, there are advantages to leasing as well. They include:
- Lower Monthly Payments
- A New Car Every Few Years
- Worry-Free Maintenance
- No Resale Worries
- Maximizing Tax Deductions
- Longer-Term Considerations
This template/ calculator can be used for any other comparison of leasing and buying decisions apart from car, with little customizations.
Download and use Car Buy Versus Lease Excel Template
Now, let us understand how to download and use this free excel template.
To use this free Car buy Vs. Lease template, you should have Microsoft Office/ Microsoft Excel installed in your system.
After installing Excel or Spreadsheet, download the zip file of this template, extract the template using WinRAR or 7Zip decompressing software. Once extracted, you can open the file using Excel and start entering data or customizing the template.
